Recent Bitcoin price corrections have sparked a wave of concern among investors, with many expecting further declines by the end of the year. A Deutsche Bank research report highlights the varying perspectives within the investor community.
Survey findings indicate that over a third of participants predict Bitcoin’s value will drop below $20,000 by January 2025, reflecting the prevailing market apprehension due to recent fluctuations.
Conversely, about 15% of respondents are optimistic, forecasting that Bitcoin’s price will stabilize between $40,000 and $75,000 by year-end.
The report details Bitcoin’s recent price trajectory, including a surge to $49,000 on January 11, attributed to excitement over the launch of spot Bitcoin Exchange-Traded Funds (ETFs) in the United States. However, subsequent selling pressure brought the price down to $39,702.
Deutsche Bank analysts suggest that the introduction of new spot Bitcoin ETFs could contribute to the cryptocurrency’s institutionalization, but the report emphasizes that the majority of ETF inflows continue to come from individual investors, reflecting their ongoing influence.
The survey, conducted between January 15-19 with participants from the US, UK, and Eurozone, explores views on Bitcoin’s price dynamics and volatility, revealing the prevailing sentiments in these key regions. As the crypto world evolves, investor sentiment plays a significant role in shaping market dynamics, with various predictions for Bitcoin’s future value highlighting the uncertainty in the market. The Deutsche Bank report offers valuable insights into the diverse expectations surrounding Bitcoin’s price trajectory, underscoring the need for a nuanced approach to cryptocurrency investments.